Mortgage rates are on the rise in Australia as funding costs and speculation about an impending RBA cash rate rise in the next few months puts pressure on banks. While there was no change in the cash rate at yesterday’s RBA meeting for April, rate hikes are coming. The big four bank economists have forecast…
New research from Canstar reveals that 11 million Australian adults are worried they will be unable to afford household bills amid skyrocketing living costs. Housing costs including rent or mortgage repayments were cited as the biggest concern. And 72% of borrowers will need to forgo certain expenses to afford higher loan repayments. The effects of…
The Covid-19 pandemic, lockdowns, and ongoing restrictions have seen Australians reevaluate what they want from their home. The sea- or tree-change shift shows people have refocused their attention on what is around them, with buyers increasingly venturing out of their usual neighbourhoods and suburbs to regional Australia in search of a different lifestyle. Because home…
New housing loan approvals fell 3.7% in February compared to the previous month. Both owner-occupiers loans (-4.7% month on /month) and investors loans (-1.8% month on month) fell – but this is not surprising considering the slowing down in the housing market. Despite the fall, the level of housing finance approvals are still 69% above pre-pandemic February 2020…
New research from Commonwealth Bank and Deloitte reveals that financial abuse costs victims, and the Australian economy, more than $10 billion per year. The staggering research found that over 380,000 women and 240,000 men were subjected to financial abuse by a former or current partner in 2020. That is 1 in 30 women and 1…
Australia’s property market delivered enormous growth during 2021 and with the peak of the market predicted to be in sight, there will likely be many homeowners out there wanting to sell before property prices take their predicted plunge (which by the way…I don’t think will happen the way people are predicting.) Once you’ve made the…
Luxury homes were the asset class of choice for Australia’s ultra-rich, with 1-in-3 spending nearly a third of their wealth on their main or second property last year, according to Knight Frank’s latest Wealth Report. The high demand for luxury homes has seen a literal race for space, with ultra-wealthy Australian buyers competing for large…
Last year was an extraordinary year for Australia’s housing market – around 98% of locations around the country recorded an increase in the median property value, with many of those values surging by more than 20%. Data from the Australian Bureau of Statistics (ABS) confirms that the total value of Australia’s 10.8 million property portfolio…
Brisbane’s property market might not match the sky-high prices seen in Sydney and Melbourne, but as owners and investors flock to the sunshine state amid a sea-change shift effect, some of the city’s most affluent streets are being put on the map. Brisbane has finished 2021 as Australia’s fastest-growing property market, with property prices continuing to…
The NSW government plans to encourage people to move away from floodland by offering stamp duty concessions and other subsidies. The government is working on a proposal for residents of flood-ravaged areas such as Lismore to not pay stamp duty if they buy in an area away from floodplains. The plan will be considered by…
